According to the material nature of corrupt criminal offences, meaning that such criminal offences can generate proceeds of crime, the Corruption Prevention and Combating Bureau (KNAB) pays increased attention to dealing with property matters. This means that KNAB monitors whether the property or possessions owned or held by persons within its sight, including financial resources, directly or indirectly, may have been proceeds of crime.
In combating money laundering, KNAB works closely with the Financial Intelligence Unit of Latvia (FID), which informs KNAB about laundering of proceeds from crime that may include bribes. Furthermore, if KNAB sees signs of such criminal offences during investigation, the investigator may, with the permission of the supervising prosecutor, release materials, initiate proceedings on proceeds of crime and urge the court to confiscate the proceeds of crimes. This process is aimed at resolving property matters in a timely and effective manner.
KNAB explains that only the court has the right to recognise and confiscate financial resources and property which were criminally acquired and arrested during criminal proceedings. All seized financial resources are paid into the State budget in full.
KNAB notes that this year, the Riga Regional Court acknowledged in the proceedings initiated by KNAB EUR 345 270.87 as criminally acquired and payable into the State budget, and the confiscated amount was transferred in full to the State budget. In two other proceedings initiated by KNAB on criminally acquired property, the Court of First Instance decided to confiscate a total of EUR 5 185 936.87, but the parties involved in both proceedings have exercised the right to appeal the decisions taken by the Court of First Instance.
KNAB thanks its partners, including the judiciary and the FID, for their support in combating laundering of proceeds from corruption.